It's more the politics that are interesting than the economics

Tax take is very high compared to by gone eras. But this is primarily driven by demographic factors. Ageing population, ever more pensioners drawing their pensions but no longer active in the labour market, ever increasing health bill from same ageing population.

All of these factors have then collided with a once/twice in a century pandemic and a European land war. It's not surprising everything is f**ked.

None of the choices around how we deal with this are palatable. Cut real pensions? Constrain even further the NHS? Start charging for more healthcare? Or during recent crises no furlough and/or no energy subsidy in the winter.

What is clear is that the Truss/Kwarteng answer to this (keep spend whatever you like, cut taxes, borrow HUGE sums at low rates) was pie in the sky.

There are simply no easy choices.

Posted By: Under soil heating on October 17th 2022 at 12:50:42

Message Thread

Energy price guarantee now lasting until April (General Chat) - jamesward, Oct 17, 11:06:13
- That was the only thing she had to bang on about at PMQs last week.. that it was 2yrs (General Chat) - JD3, Oct 17, 11:39:28
  - The SNP are on course to be the opposition in Parliament (n/m) (General Chat) - SCC 28, Oct 17, 11:40:35
- Everything from mini budget ditched apart from NI cut and stamp duty (General Chat) - jamesward, Oct 17, 11:13:56
  - I can still the nation at the voting booths going (General Chat) - Lentil Weaver, Oct 17, 12:48:39
    - Probably be a good election to lose tbh (General Chat) - jamesward, Oct 17, 13:06:19
      - the ingenuity of man knows no bounds (General Chat) - ghostof barry butler, Oct 17, 13:32:07
        
        Maybe not, but they might have had some say in making it happen (n/m) (General Chat) - APB, Oct 17, 14:31:52
        
        i think its happening (General Chat) - ghostof barry butler, Oct 17, 15:00:01
  - The economics is interesting isn't it (General Chat) - Timmy_Goat, Oct 17, 12:25:39
    - Sooner or later, either the economy grows (General Chat) - paulg, Oct 17, 13:40:07
      - I agree (General Chat) - Timmy_Goat, Oct 17, 17:37:04
    - saying the tx % is way too high is a political choice (General Chat) - CWC, Oct 17, 12:58:48
      - Many of whom seem to score higher than us on a variety of quality of life/happiness metric (General Chat) - CB41, Oct 17, 13:37:08
      - My base (n/m) (General Chat) - Legacy Fan, Oct 17, 13:09:35
        
        Try again. My baseline for this is essentially that tax levels are fine if you can see (General Chat) - Legacy Fan, Oct 17, 13:12:26
    - It's more the politics that are interesting than the economics (General Chat) - Under soil heating, Oct 17, 12:50:42
    - The high taxes are due to many things, not only furlough. However, they don't like to (General Chat) - Legacy Fan, Oct 17, 12:47:38
    - If I was going to change anything about the basic rate of income tax (General Chat) - jamesward, Oct 17, 12:33:33
      - It doesn’t help high earners (General Chat) - SimonOTBC, Oct 17, 13:07:50
        
        Well they don't need help so that's OK (n/m) (General Chat) - Legacy Fan, Oct 17, 13:12:52
        
        Didn't know that (General Chat) - jamesward, Oct 17, 13:09:52
        
        £125k (General Chat) - CWC, Oct 17, 13:25:05
        
        Yeah, it means 60% tax plus NI on every £ over £100k (General Chat) - SimonOTBC, Oct 17, 14:30:55
        
        No-one *needs* to earn more than £100k a year (General Chat) - jamesward, Oct 17, 14:45:52
        
        That’s not really relevant, is it? (General Chat) - SimonOTBC, Oct 17, 14:54:54
        
        CTC kicks in at £50k so his figures seem suspect (n/m) (General Chat) - CWC, Oct 17, 14:39:38
        
        What do you mean? (n/m) (General Chat) - SimonOTBC, Oct 17, 14:45:55
        
        might have misread (General Chat) - CWC, Oct 17, 15:12:14
        
        😂 yes (n/m) (General Chat) - SimonOTBC, Oct 17, 15:13:20
      - Agree. Increase the personal allowance. (n/m) (General Chat) - Legacy Fan, Oct 17, 12:50:16
  - ha ha ha (n/m) (General Chat) - ghostof barry butler, Oct 17, 11:29:49
  - Hunt is part of the anti growth coalition (n/m) (General Chat) - SCC 28, Oct 17, 11:16:53
    - Lolz (n/m) (General Chat) - Augustus Pablo, Oct 17, 11:21:58
    - She's surely gone (n/m) (General Chat) - jamesward, Oct 17, 11:19:19
      - Untenable (General Chat) - CWC, Oct 17, 11:34:11
        
        Nothing is untenable these days. Idiots lap it up. Turkeys don't only celebrate (General Chat) - Legacy Fan, Oct 17, 12:49:27
      - Just about when she resigns now (General Chat) - SCC 28, Oct 17, 11:21:58
        
        Can she still command £100k+ a time on "the US lecture circuit"?! (n/m) (General Chat) - JD3, Oct 17, 11:38:23
        
        How disgusting is that? Nauseating. 🤮🤢 (n/m) (General Chat) - protheroe fitzgibbon, Oct 17, 11:49:11
        
        Who would pay 100p to hear her speak? Let alone 100k. (n/m) (General Chat) - Pixelman, Oct 17, 11:40:01
        
        Probably not even her Lib Dem parents (n/m) (General Chat) - jamesward, Oct 17, 11:41:50
        
        The Tory Corbyn (General Chat) - Old Git, Oct 17, 11:25:07
        
        The MPs did put her into the final 2 tbf (General Chat) - SCC 28, Oct 17, 11:29:07

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